Sierra company manufacturers and sells a single product. The following costs wear incurred during the company's first
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Question:
Sierra company manufacturers and sells a single product.
The following costs wear incurred during the company's first year of operation. variable cost per unit:
manufacturing direct material 60
direct labor 9
variable manufacturing overhead 3
costs per year fixed manufacturing overhead 3 lakh
fixed selling and administrative overhead 109000
required
1. prepare an income statement for the year using absorption costing
2. prepare an income statement for the year using variable costing
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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